Hello Snapshotters,
Crypto.com announced this week that we are partnering with 21.co, the parent company of 21Shares and one of the largest crypto exchange-traded product (ETP) issuers, to provide liquidity for 21.co’s Wrapped Bitcoin (21BTC). This is the start of a long-term strategic partnership between the two companies.
In addition, Crypto.com became the first cryptocurrency platform to be awarded the latest Payment Card Industry Security Standard (PCI DSS) v4.0 certificate, setting a new standard for the crypto industry.
Read on for more news from the crypto space.
Market Spotlight
Note: Market prices captured in USD at the time of sending. Explore more on Crypto.com/Price.
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News Snaps
🤝 21.co x Crypto.com
21.co, the parent company of 21Shares — one of the largest crypto exchange-traded product (ETP) issuers — announced this week that it will source Bitcoin liquidity from Crypto.com for its Wrapped Bitcoin (21BTC). This is the start of a long-term strategic partnership between the two companies.
🏆 Crypto.com’s Security Milestone
Crypto.com became the first cryptocurrency platform to be awarded the latest Payment Card Industry Security Standard (PCI DSS) v4.0 certificate, setting a new standard for the industry.
📈 Diversified Assets See Inflows
Diversified asset products stood out among continuous outflows from investment funds, adding another $29.4 million in their 16th consecutive week of inflows. Conversely, both Bitcoin and Ether products saw outflows of $159 million and $28.9 million, respectively.
🧑🤝🧑 Tether Surpasses 350 Million Users
The issuer of the USDT stablecoin, Tether, crossed the 350 million user milestone, a 24% increase over the last year. USDT currently has a market capitalization of $119.8 billion.
⚖️ Crypto.com Files Lawsuit Against SECAn important milestone for our business in the U.S. and the greater industry — Crypto.com has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) to protect the future of crypto in the U.S. For our community — this has no impact on our current business operations, products, or services.
What’s Ahead
UAE Exempts Crypto Taxes
The United Arab Emirates (UAE) is set to exempt cryptocurrency transactions from value-added tax starting on November 14 as part of the country’s efforts to integrate digital assets into its system.
Number of the Week
Chart of the Week
Bitcoin’s price increased by 7% in September this year, the highest recorded returns for the month since 2013, according to CoinGlass. It recorded negative monthly returns for September eight times between 2013 and 2024, earning it the moniker ‘Rektember’.
October, on the other hand, has been referred to as ‘Uptober’: BTC recorded nine years of positive returns in October between 2013 and 2023, with an average return of 22.9%.
Monthly Feature Article | AI Agent in Crypto
This report looks into AI agents in the cryptocurrency realm, including agent creation, trading, payments, gaming, social, NFT, and security.
Read the full report here.
Crypto Trivia
Which meme coin, inspired by a viral cat named Oatmeal and its wide-mouthed expression, has gained popularity on Solana?
A) MEW
B) POPCAT
C) MANEKI
Find the correct answer at the end of this newsletter.
NFT Spotlight
Coming this Wednesday, October 16, is Davansh Atry’s ‘The Gates Of Multiverse’, a collection of artworks that takes you on a journey of endings and new beginnings — a reflection of dreams that would be a beautiful reality, filled with bright and vibrant colors.
It is a collection of portals standing at the edge of the world acting as connectors, and the style of artwork is one of Atry’s defining traits as a creator. With bright colors and an obsession with space, it is a theme Atry often dives into.
This collection includes potential access to future 🪂 NFT airdrops.
Enter the Gates. There are also hopes, dreams, and a lost ghost over here.
Product Picks
Amplify Your Trades With CFDs in the Crypto.com App
Contracts for Differences (CFDs) are now available in the Crypto.com App*, allowing you to amplify your trades with up to 20x leverage. Enjoy trading 40-plus supported cryptocurrencies anytime, anywhere, on a mobile-first platform. Find out more here.*Available in select jurisdictions
Win a Share of $250,000 in VVS in the Airdrop Arena
Join the VVS Airdrop Arena event simply by allocating 100 CRO to start earning points. The total number of points you earn will place you on a leaderboard, which will determine your total VVS rewards. Your token rewards will be airdropped within seven days after the event ends. Join the VVS Airdrop Arena event now.
Apply for a Crypto.com Visa Card in Argentina, Colombia, Mexico and Peru Today
You can now apply for the Crypto.com Visa Card via the Crypto.com App. As the world’s most popular crypto-linked card program, the Crypto.com Visa Card offers up to 5% back on spending; LoungeKey™ airport lounge access; 100% rebates for Spotify, Netflix, and Amazon Prime; and more. Terms and conditions apply. Learn more.
Crypto Level Up
Crypto CFDs and How to Trade Them
Crypto Contracts for Differences (CFDs) allow users to potentially profit from the price movements of a token in either direction, up or down, and without owning the underlying asset itself.
Ways to Trade CFDs
Go Long: Buying a CFD in anticipation of a price increase to sell it later for a profit.
Go Short: Selling a CFD in anticipation of a price drop to buy it back at a lower price.
Trade on Margin: You can open a larger position with less capital using leverage, which amplifies your potential profit, but also your potential losses.
Dive into the world of CFDs here.
CryptoIRL
@randominv3stor is touching the sky at the Petronas Towers in Kuala Lumpur with their Royal Indigo Crypto.com Visa Card.
Hashtag #CryptoIRL with your Crypto.com Visa Card on your social profiles to get featured! Your 15 minutes of fame in the #CROFam awaits you!
Security Tips
“Sign up for our crypto trading platform and make $5,000 a week,” says the operator on the phone. Crypto scam syndicates are becoming more sophisticated and organized, operating like legitimate call centers and offering professional trading interfaces.
Earlier this year, the Australian Federal Police launched an operation to tackle international scams. To date, 615 crypto scam websites have been removed.
An interview with an ex-scammer shed light on the psychological tactics employed to entice victims to trade on fake crypto platforms.
How to stay safe:
- Only use licensed cryptocurrency platforms.
- Only invest or trade what you can afford to lose.
- Be wary of promises of high returns.
Only transfer assets to people you know personally and trust.
Crypto Trivia Answer
The correct answer is B) POPCAT.
That’s it for this week’s Snapshot. Want more? Find out what’s trending in the crypto world.
